Expensify (NASDAQ:EXFY) CEO David Michael Barrett Sells 30,000 Shares

Expensify, Inc. (NASDAQ:EXFY) CEO David Michael Barrett sold 30,000 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $1.52, for a total value of $45,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,378,480 shares in the company, valued at $2,095,289.60. This trade represents a 2.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

David Michael Barrett also recently made the following trade(s):

• On Monday, November 3rd, David Michael Barrett sold 30,000 shares of Expensify stock. The stock was sold at an average price of $1.60, for a total value of $48,000.00.
• On Thursday, September 18th, David Michael Barrett sold 10,262 shares of Expensify stock. The stock was sold at an average price of $1.95, for a total value of $20,010.90.
• On Tuesday, September 16th, David Michael Barrett sold 2,396 shares of Expensify stock. The shares were sold at an average price of $1.90, for a total value of $4,552.40.

Expensify Stock Performance

Shares of NASDAQ EXFY opened at $1.60 on Friday. Expensify, Inc. has a fifty-two week low of $1.33 and a fifty-two week high of $4.13. The firm has a market capitalization of $129.34 million, a PE ratio of -9.41 and a beta of 1.69. The stock’s 50-day simple moving average is $1.61 and its 200-day simple moving average is $1.95.

Expensify (NASDAQ:EXFY) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08). The business had revenue of $35.07 million during the quarter, compared to analyst estimates of $35.65 million. Expensify had a negative net margin of 10.83% and a negative return on equity of 11.75%.

Hedge Funds Weigh In On Expensify

A number of institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Expensify by 134.2% during the second quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company’s stock worth $3,435,000 after buying an additional 759,982 shares during the period. Millennium Management LLC increased its position in Expensify by 103.2% in the 1st quarter. Millennium Management LLC now owns 1,406,476 shares of the company’s stock valued at $4,276,000 after acquiring an additional 714,244 shares during the period. Acadian Asset Management LLC raised its stake in Expensify by 46.1% during the 2nd quarter. Acadian Asset Management LLC now owns 2,071,772 shares of the company’s stock valued at $5,359,000 after acquiring an additional 653,260 shares during the last quarter. Globeflex Capital L P acquired a new stake in Expensify during the 2nd quarter worth approximately $845,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Expensify by 53.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 926,669 shares of the company’s stock worth $2,817,000 after acquiring an additional 322,581 shares during the period. 68.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. BMO Capital Markets dropped their target price on shares of Expensify from $3.00 to $2.50 and set a “market perform” rating on the stock in a research report on Friday, August 8th. Wall Street Zen cut shares of Expensify from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Expensify in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Expensify has an average rating of “Hold” and an average target price of $4.00.

Expensify Company Profile

Expensify, Inc provides a cloud-based expense management software platform to individuals and corporations, small and midsized businesses, and enterprises in the United States and internationally. The company’s platform enables users to manage corporate cards, pay bills, generate invoices, collect payments, and book travel.